- Ewallets: are they safe?
- Take a look a the most popular ewallets for casino punters
It’s a good idea to take a look at some of the most popular options available today, to learn what advantages or disadvantages e-wallets can provide compared to the usual debit/credit cards and bank transfer.
If you’ve ever used PayPal then you already know how it works: e-wallets act as the middleman between your bank account and the institution you’re depositing or withdrawing money from.
Selling points of e-wallets
Perhaps the most appealing aspect of e-wallets is that they allow you a degree of anonymity in your financial transactions.
E-wallets save you from relaying your bank details to the business or individual which you are paying, which can make you feel a lot safer if you have doubts about gambling with real money.
It also means that your bank account won’t have a record of your activity on casino websites, and it can be much faster to get funds this way than to wait around for a bank transfer. You can use them not just for gambling but for purchasing any product or online service, so they’re multi-functional.
Reading the fine print
There’s a handful of downfalls to using an e-wallet as opposed to the standard debit or credit card, and one of them is that one e-wallet might not cover every online casino that you want to take part in.
It can also take a few days to set up, as the service will usually deposit a tiny amount of money into your bank account, which you then have to input into your account on the e-wallet website in order to have your e-wallet set up completely. There can also be some limits on your withdrawals and transactions, and almost every e-wallet has transfer fees, which can be a slight hindrance to a casual player.
Some bonuses and promotions might not always be available to e-wallet users either. All things considered, there still are plenty of reasons to choose e-wallets.
PayPal, Skrill and Neteller: which to choose?
Paypal is a tried and true e-wallet, popular among consumers due to its recognisable name and relatively long history. It’s also one of the fastest when it comes to withdrawing funds.
However, it isn’t the most widely accepted at online casinos these days, which is why it might be worth looking into two other e-wallets with a long history of being used by gamblers.
READ: The online casinos which accept PayPal.
These are Skrill and Neteller. Both have fees to consider when withdrawing money; Neteller users are charged a 3.9% fee for credit and debit card deposits, but it’s completely free to electronically transfer money to your bank account.
It’s also been around since 1999, so it’s had time to gain a good reputation. Skrill’s credit card deposits are charged at 1.9%, and withdrawal into a bank account has a small fee attached, but they have also enjoyed a long reputable history and they have a loyalty program for members using their services often.
Neteller and Skrill are both extremely popular and supported by the vast majority of online casinos, so these are the two to spend your time investigating.
It’s also worth noting that depending on your country of residence, you may be blocked from retrieving funds if you are found to be using your e-wallet for gambling, so it’s best to check any e-wallet’s terms and conditions before signing up.
That being said, it can be a great advantage for punters looking to add an extra level of security to their online punting, if you’re willing to pay a small fee.
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